Stock Market & Financial Investment News

Weatherford Ireland succeeds Weatherford Switzerland as parent companyWeatherford International announced that the shareholders of its predecessor company Weatherford International, formed in Switzerland, have approved changing its place of incorporation from Switzerland to Ireland. This action was taken at an Extraordinary General Meeting of Shareholders held yesterday at which the proposal was overwhelmingly approved by over 98% of the shareholders voting. Weatherford Switzerland merged into Weatherford Ireland, which has now become the parent of the Weatherford International group of companies. With the completion of the merger mentioned above, the parent company of the Weatherford International group of companies continues to be subject to SEC reporting requirements as well as the rules of the NYSE, and its ordinary shares will be exclusively listed on the NYSE under the symbol "WFT." As previously announced, Weatherford's shares have been delisted from the NYSE Euronext Paris, and Weatherford also expects to delist its shares from the SIX Swiss Exchange on or about June 19.